TUESDAY'S PERSONAL FINANCE STORIES

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Competition and innovation are good for an economy, and so the entrance of Eurex, the world's largest futures exchange, into the fray in the United States should be viewed positively.

That Eurex, an electronic exchange, chose Chicago for its American foray speaks volumes about its intentions, challenging the venerable Chicago Board of Trade and its traditional open-outcry trading pits. The European upstart flaunted the announcement of its presence last month by lighting up Chicago's Sears Tower.

The tweaking of the old institutions might be seen as just so much strutting and posturing within the insular trading community were it not for the fallout: The Eurex moves have already brought responses from the CBOT and the Chicago Mercantile Exchange that will produce ripple benefits for many investors.

As Thomas Kostigen points out in Sophisticated Investor, what Eurex has done is to bring globalization home to roost. Find out what benefits he sees accruing to the investment community, plus catch up on the latest developments in the mutual-fund scandal and learn how electronic filing of tax returns is gaining ground, on Tuesday's Personal Finance pages.

When the world comes knocking, you've got to answer.

Steve Kerch, personal finance editor

Eurex Chicago beachhead spurs competition

Eurex, the world's largest futures exchange, has opened its doors in Chicago and as a portent of global competitiveness is already making its presence felt. See Sophisticated Investor

E-filing of tax returns is on the rise

Forget stuffing forms in an envelope and then guessing how many stamps to put on it: More Americans than ever have decided a keyboard and modem are the best way to file their taxes. See full story

U.S. layoffs fall 34% to 5-month low

Layoff announcements by U.S. corporations fell back in February after spiking higher in January, according to outplacement firm Challenger Gray and Christmas. See Economic Report

Bridgeway Funds founder Montgomery takes a high road

The shareholder-first approach of Bridgeway Funds says a lot about how founder and portfolio manager John Montgomery does business. Yet Bridgeway's high standards speak even louder about how mutual-fund companies conduct themselves. See Mutual Understanding

Feds subpoena Citigroup over Smith Barney fund unit

Citigroup said on Monday that federal and state securities regulators have subpoenaed information related to market-timing trades, fees and sales practices at its Smith Barney mutual-fund unit. See Fund Watch

Sarbanes, Oxley praise corporate-governance reform

Sen. Paul Sarbanes and Rep. Michael Oxley said Monday that the sweeping corporate-reform legislation that bears each of their names is working, despite claims of it causing a cash burden for some public firms. See full story

Fund leaders ask Senate panel to go slow on reform

A congressional panel took testimony from mutual-fund directors who urged lawmakers not to hastily pass legislation for the industry, especially certain provisions that would impose tough new conditions on independent board directors. See Fund Watch

Outsource all fund managers? Why not

Yes, you can quote me on this! And definitely pass this along as an anonymous tip to Rush Limbaugh, the Drudge Report and the National Enquirer! Tell 'em New York's Attorney General Eliot Spitzer is a very dangerous liberal. Stop this man before it's too late! See Paul B. Farrell

DRIP opportunity in latest bank merger

Merger mania has been heating up in recent months, especially in the banking sector. Indeed, one giant banking deal -- Bank of America's takeover of FleetBoston Financial -- has been followed by another giant banking merger -- J.P. Morgan Chase's acquisition of Bank One. See The Guru's Corner

Good deeds that bring better tax breaks

Henssler's Parrish finds quality in Pfizer, ACS, Citigroup

Ted Parrish still remembers what Gene Henssler told him when he joined the Henssler investment management team: "We like to own companies that can survive the next depression instead of the next recession." See The Stock Pickers

Help for Medicare confusion

Medicare, the national health-insurance program for people over 65 and some who are disabled, provides coverage for more than 40 million people. It is a complex program and its details can be bewildering. There are, however, sources that can help you make sense of Medicare and describe how changes will affect you. See Marshall Loeb's Daily Money Tip

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